zzdcar
Home
/
Reviews
/
Buying
/
Luxury Car Resale Values Dropping Almost As Hard As Crypto Values
Luxury Car Resale Values Dropping Almost As Hard As Crypto Values-September 2024
2024-02-19 EST 22:09:19

2021 Mercedes AMG G 63

The bankruptcy filing of has sent shockwaves through the markets. The digital currency’s value is falling hard, personal net worths are also taking a dive. It’s even more apparent when it comes to luxury cars on the market. Crypto investors are selling their luxury cars like hotcakes and it could be affecting the resale value of the market, reports the .

Some of the most popular models that people buy up when they come into money like the McLaren 570S and 600 LT or the poster child for the rich, the Mercedes G-Wagen are all seeing more cars on the market at much lower values. The unknown head of a luxury dealer, user on Twitter, notedthat a 2021 G-Wagen with just over 3,300 miles recently sold for $187,000. While that may seem like a lot (it is six figures), he points out it’s a 30 percent drop from the nearly $300,000 figures G-Wagens were going for earlier this year.

CarDealershipGuy’s incoming messages are full of crypto investors looking to get rid of their luxury and exotic cars. And he’s not the only one, as multiple car-buying sites have seen an increase in exotic car listings as of late. Another Twitter user highlighted the number of McLarens that have appeared on .

Same with Autotrader. A rep for the site told the Post that listings for cars over $100,000 have gone up in the last three years. In 2019 six-figure listings were 0.16 percent. This fall they’re up to 0.69 percent. And as the crypto pyramid continues to fall, that percentage of listing will continue to rise. Crypto investors are panicking, and while they may not fully recover fromthat very publicshame, the damage to the luxury and exotic car market still has a chance to return to form.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
The (and Tacoma) have a death grip on used values. It’s been this way for years. Go ahead, go try and buy any TRD trim that’s a couple of years old; it’ll cost you as much as a new one — not that you could buy a new one...
Sep 22, 2024
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
Today’s Mustang is being sold by a towing yard, which means it’s probably a lien sale. Let’s see if this clean title convertible is priced to put a new buyer on the hook. The general consensus on last Friday’s was that it would be the perfect car for someone...
Sep 22, 2024
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
According to its seller, today’s Nissan 4X4 shows “pride of ownership.” Let’s see if it would take swallowing one’s pride to pay its asking price. Opinions were split on how well the design of yesterday’s has held up over the years. Some of you commented that the design still...
Sep 22, 2024
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
The seller of today’s Caddy claims they should be selling it at auction but says who’s got time for that? Let’s see if we have the time for this custom convertible at its non-auction price. Many of you agreed that the $950 asked for yesterday’s was “chump change.” Even...
Sep 22, 2024
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Let’s cut right to the chase: buying a is not a good idea unless you have deep enough pockets for the upkeep. For those not in the know, they’re sirens. They draw you in with their premium Italian image and sweet songs of and then go in for the...
Sep 22, 2024
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
One of the calling cards of today’s Plymouth Colt is its “Twin Stick” overdrive gear change, which gives the car eight speeds going forward and two in reverse. Let’s see if this project car has anything else to offer. Just as Goldilocks discovered when appropriating Papa Bear’s lifestyle and...
Sep 22, 2024
Copyright 2023-2024 - www.zzdcar.com All Rights Reserved